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Dealing with stocks

Here, we look at how stock dealing can be recorded in a journal in a way that facilitates report visualization.

Account for your stock broker

You should use an account for each stock broker that you deal with.

If you have stocks that are not in the custody of any stock broker or is somehow not listed on any stock broker's system (in some countries, some stocks only show up at central depository of stocks), you can create an account for that central depository too.

You may start with some cash already deposited in the cash account at your stock broker:

Where "SOMST" is the code of the stock and the price above is the price of the stock at the time where the opening balance is defined. This gives you accurate historical valuation of your assets. The transactions thus far are recognized as the following:

Buying stocks

Notice how the transaction actually involves the same account. In this case, we are using part of the $2000 that's already available in AbneyShares (as recorded earlier) to pay for the stock purchase. This transaction is recognized as the following: